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In this video tutorial, Melbourne-based fashion and food photographer Julian Lalo discusses the importance of contracts for freelance photographers. He shares his personal contract, which he has created based on his experiences in the industry. Lalo emphasizes the importance of including key points that arise in client situations to inform future clients. The contract is kept to one page with subheadings and bullet points for easy readability. While not legally binding, Lalo stresses the importance of clients reading and understanding the terms and conditions outlined in the document.